EUR/USD is facing strong resistance near the 1.0800 zone. USD/CHF is rising and could target a clear move above the 0.9240 resistance zone.
Important points for EUR/USD and USD/CHF
· The euro has started a fresh decline from the 1.0800 resistance against the US dollar.
· A significant bearish trend line has formed with resistance near 1.0750 on the EUR/USD hourly chart.
· USD/CHF has started a fresh move above the 0.9200 resistance zone.
· A major bearish trend line has formed with resistance around 0.9240 on the hourly chart.
EUR/USD Technical Analysis
After testing the 1.0650 support zone, the EUR has started a steady rise against the US Dollar. The EUR/USD pair has moved above the 1.0700 level and into the bullish zone.
The pair rose above the 1.0750 resistance and settled above the 50 hour simple moving average. However, the bears found him active around the 1.0800 resistance.It traded as high as 1.0804 on FXOpen and recently started a downward correction….More: Blog forex open